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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- MBA mortgage applications fell -13.3% last week, this time led by purchases sliding -18% (refis -2%) with the level of purchases the lowest since 1995 in seasonally adjusted terms.
- It came as the 30yr conforming rate increased another 23bps to 6.62% for a 44bp increase since the start of Feb.
- Little immediate reaction on the release - 2Y Tsy yields drifting 0.5bp higher over 5mins but have since rallied 1.5bps – but at the margin it’s a data point that questions what had been some green shoots of a potential bottom in the downturn in housing activity.
MBA purchase levels (green), 30Y rate (white) and spread to 10Y Tsy yields (red)Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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